How to file your Income Tax Returns Online in INDIA

July 31, 2015 is the last day to file your tax returns for the financial year 2013-2014. Have you filed your ITR? Yes, there are ways to file returns post this deadline but it becomes complicated. Don’t fret, you do not have to make rounds of your tax planner or CA or any government offices. You can fill it online either through the income tax portal or other authorised websites. If your taxable income is greater than Rs. 5,00,000, it is anyways mandatory to file returns online.

Before you go online, you need to keep the following documents ready -

• - Form 16
• - Bank Statements
• - TDS Certificates
• - Last Year’s Tax Returns document
• - PAN details

There are two ways to file them -

1.Filing through the Income tax portal -

Here are the steps to follow if you file your returns on the income tax department’s website -

1. Register yourself on the website – https://incometaxindiaefiling.gov.in by proving information such as name, address, PAN number, birth date, contact details etc.
2. You should then click on ‘Login’ and log in the portal using your PAN number as the username.
3. View the Form 26 AS form. It will reflect the total tax paid by you. Verify if the amount is correct. If you need to pay any balance amount, you should pay it. This can be done online as well.You will get a challan for the same.
4. There are different ITR forms  for individuals and HUFs as per the sources of income- ITR-1, ITR-2, ITR-3 and ITR4 and ITR4S. Choose the one relevant for you and download it and complete the details in it. You will need details from your Form 16 to fill it. This can be saved as an XML file.

 

5. Enter the challan details for the balance tax paid by you
6. Click on the Validate tab to confirm all information entered
7. There are two alternate steps now –

A. If you included your digital signature, you can upload the XML file by clicking on the submit button. You will get an acknowledgement which should be printed/saved. This indicates successful ITR filing. It is to be noted that a registered Digital Signature only can be used to file returns.

B. If you do not have a digital signature, print the ITR-V form, sign it and send it to the  following address by Speed Post or Ordinary Post within 120 days of submitting returns.

          ‘Income Tax Department – CPC, Post Bag No – 1,

          Electronic City Post Office, Bengaluru – 560100, Karnataka’

 The tax department will send an acknowledgement on successful receipt of your ITR-V  form which indicates successful ITR filing.

You should try to file your returns on the income tax website first.

2) Filing income tax return through private portals -

If you find the process of filing returns on the income tax website cumbersome or difficult, there are many websites that offer you service to file your ITR online for a fee. Some of these portals are Taxsmile and ClearTax. There are mobile applications too for filing ITR online.

These portals offer different services

• - File Returns on your own
• - The website assists you to file the returns
• - ITR-V submission
• - Tracking tax credits and refunds

It is important to check the track record and reputation of the private portal if you are filing your returns through them as you are sharing a lot of private data.

Let us know how you filed your returns and your experience and feedback on the income tax portal or private portals that you used.